Funding you earn now, next payment 23:00 UTC+0.0426%/8h= +46.7% APRnext payment +$0.53 per $10,000 · paid last 24h +0.106%
Price spread now: Hyperliquid against Backpack+0.224%7-day average +0.119% · you sell dearer than you buy
Net, funding: paid 7d − costs−$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$240.240% of the position
Funding, last 7 days+0.154%+$15 on $10k
+Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.224%, 7d avg +0.119%
=Together, before fees+0.087%+ Points / potential airdropHyperliquid: Season 2 · farm board+$9 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Hyperliquid is 0.105% dearer against Backpack than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.119%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.154% in total (about 8.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.53 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack SUI_USDC_PERP | 1.0252 | 0.0100 | pay 0.0013% / 1h | 2m 51s | $650K | $1.1M | 20x |
| Short | Hyperliquid SUI | 1.0275 | 0.0526 | get 0.0066% / 1h | 2m 51s | $73.5M | $80.3M | 10x |
Backpack SUI_USDC_PERP
Hyperliquid SUIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $89.52
- Price spread: +0.224% → +0.119%
- $10.52
- Slippage, 4 orders
- −$4.98
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $76.05
- Costs to cover
- 0.240%
- Break-even
- 1.1 days
Slippage from Backpack: live order book, 1 min ago; Hyperliquid: live order book, 11 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Backpack live order book, 1 min ago | 0.49 bp | 5.5 bp −$5 | 7.9 bp −$79 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 0.49 bp | 6.1 bp −$6 | 11.9 bp −$119 | doesn't fit | doesn't fit |
SUI on 46 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective SUI/USDC PERP | −0.2926% | 1h | 1.0157 | −0.927% | $42K | $123K | 12x | as long as short |
| Reya SUIRUSDPERP | −0.0368% | 1h | 1.0251 | −0.013% | $4K | $3K | 20x | as long as short |
| Hibachi SUI/USDT-P | −0.0296% | 1h | 1.0260 | +0.081% | $6K | $19K | 7x | as long as short |
| Bluefin SUI-PERP | −0.0138% | 1h | 1.0241 | −0.107% | $587K | $403K | 25x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0268 | +0.152% | $94K | $66K | 10x | as long as short |
| Kalshi KXSUIPERP | 0.0000% | 8h | 1.0266 | +0.137% | $458K | $5.4M | 2.5x | as long as short |
| Deribit SUI_USDC-PERPETUAL | 0.0000% | 1h | 1.0256 | +0.039% | $191K | $580K | 25x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0002% | 1h | 1.0253 | +0.011% | $119K | — | 150x | as long as short |
| Lighter SUI | +0.0096% | 1h | 1.0263 | +0.105% | $785K | $5.9M | 10x | as long as short |
| Lighter RH SUI | +0.0096% | 1h | 1.0267 | +0.142% | $259K | $2.0M | 10x | as long as short |
Injective SUI/USDC PERP
Reya SUIRUSDPERP
Hibachi SUI/USDT-P
Bluefin SUI-PERP
dYdX SUI-USD
Kalshi KXSUIPERP
Deribit SUI_USDC-PERPETUAL
gTrade (Gains Network) SUI/USD
Lighter SUI
Lighter RH SUIShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex SUIUSDT | +0.0096% | 1h | 1.0253 | +0.010% | $37K | $500K | 50x | as long as short |
| Orderly PERP_SUI_USDC | +0.0099% | 8h | 1.0250 | −0.020% | $45K | $330K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0264 | +0.113% | $27K | $9K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0252 | 0.000% | $593K | $1.4M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0259 | +0.069% | $1.0M | $4.6M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0265 | +0.125% | $222K | $263K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0261 | +0.088% | $150.9M | $1.02B | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0263 | +0.107% | $102.8M | $306.8M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0260 | +0.078% | $41.1M | $382.5M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0260 | +0.078% | $45K | $387K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0242 | −0.096% | $241K | $2K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0259 | +0.068% | $164.8M | $81.1M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0260 | +0.078% | $148.5M | $298.1M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0256 | +0.039% | $51.5M | $52.1M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0257 | +0.049% | $67.8M | $168.4M | 75x | as long as short |
| BingX SUI-USDC | +0.0100% | 8h | 1.0260 | +0.078% | — | $6.5M | — | as long as short |
| Backpack SUI_USDC_PERPlong | +0.0100% | 1h | 1.0252 | long leg | $650K | $1.1M | 20x | |
| Variational Omni SUI | +0.0100% | 8h | 1.0262 | +0.099% | $2.3M | $2.8M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0259 | +0.071% | $168K | $4.4M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0260 | +0.078% | $445K | $7.0M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0252 | 0.000% | $233K | $441K | 50x | as long as short |
| Polymarket Perps SUI-USD | +0.0100% | 1h | 1.0262 | +0.098% | $107K | $794K | 10x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0275 | +0.224% | $2K | $1.9M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0254 | +0.020% | $6K | $2.4M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0249 | −0.029% | $630K | $18.5M | 75x | as long as short |
| Phemex SUIUSDT | +0.0100% | 8h | 1.0257 | +0.049% | $11.5M | $24.7M | 50x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0258 | +0.054% | $1.4M | $3.7M | 50x | as long as short |
| 01 Exchange SUIUSD | +0.0104% | 1h | 1.0250 | −0.020% | $9K | $9K | 10x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0260 | +0.083% | $48K | $37K | 3x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0255 | +0.029% | $7.9M | $23.8M | 100x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0248% | 1h | 1.0260 | +0.078% | $972K | $13.9M | 50x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0296% | 1h | 1.0259 | +0.068% | $7.1M | $24.1M | 50x | as long as short |
| Phoenix SUI | +0.0346% | 1h | 1.0274 | +0.218% | $203K | $574K | 10x | as long as short |
| Hyperliquid SUIshort | +0.0526% | 1h | 1.0275 | +0.224% | $73.5M | $80.3M | 10x | |
| GMX SUI/USD [ETH-USDC] | L +0.0636% / S −0.0309% | 1h | 1.0252 | −0.002% | $895K | — | 100x | as long as short |
| Aftermath Perps SUIUSD | +0.0766% | 1h | 1.0261 | +0.087% | $93K | $381K | 10x | as long as short |
Popdex SUIUSDT
Orderly PERP_SUI_USDC
Paradex SUI-USD-PERP
Nado SUI-PERP
Aster SUIUSDT
Pacifica SUI
Binance SUIUSDT
Bybit SUIUSDT
OKX SUI-USDT-SWAP
Arcus SUI-USD
Bulk SUI-USD
Gate SUI_USDT
MEXC SUI_USDT
KuCoin SUIUSDTM
Bitget SUIUSDT
BingX SUI-USDC
Variational Omni SUI
edgeX SUIUSDC
GRVT SUI_USDT_Perp
ApeX Omni SUIUSDT
Polymarket Perps SUI-USD
SunX SUI-USDT
SoDEX SUI-USD
HTX SUI-USDT
Phemex SUIUSDT
Extended SUI-USD
01 Exchange SUIUSD
Aevo SUI-PERP
BloFin SUI-USDT
Coinbase International SUI-PERP-INTX
Kraken Futures PF_SUIUSD
Phoenix SUI
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD